Buying a home June 22, 2017

Buying Is Now 33.1% Cheaper Than Renting in the US

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

Other interesting findings in the report include:

  • Interest rates have remained low and, even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
  • With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.
  • Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.

Selling a Home June 20, 2017

Top Home Renovations for Maximum ROI [INFOGRAPHIC]

Some Highlights:

  • Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).

  • While big projects like adding a bathroom or a complete kitchen remodel are popular ways to increase a home’s value, something as simple as updating landscaping and curb appeal can have a quick impact on a home’s value.

  • For more information about top renovation projects that net you the most ROI, you can check out the complete list here.

 

Selling a Home June 20, 2017

Do You Know How Much Equity You Have in Your Home?

CoreLogic’s latest Equity Report revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation.

Price Appreciation = Good News for Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

One million borrowers achieved positive equity over the last year, which means risk continues to steadily decline as a result of increasing home prices.”

Frank Martell, President and CEO of CoreLogic, believes this is a great sign for the market in 2017 as well, as he had this to say:

Homeowner equity increased by $766 billion over the last year, the largest increase since Q2 2014. The rising cushion of home equity is one of the main drivers of improved mortgage performance. Since home equity is the largest source of homeowner wealth, the increase in home equity also supports consumer balance sheets, spending and the broader economy.”

This is great news for homeowners! But, do they realize that their equity position has changed?

According to the Fannie Mae’s Home Purchase Sentiment Index (HPSI), more homeowners are beginning to realize that they may have more equity than they first thought.

This is only the second time in the survey’s history that the net share of those saying it’s a good time to sell surpassed the net share of those saying it’s a good time to buy.

78.8% of homeowners have significant equity (more than 20%) in their homes today!

This means that many Americans with a mortgage have an opportunity to take advantage of today’s seller’s market. With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing).

Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae spoke out on this issue:

“High home prices have led many consumers to give us the first clear indication we’ve seen in the National Housing Survey’s seven-year history that they think it’s now a seller’s market. However, we continue to see a lack of housing supply as many potential sellers are unwilling or unable to put their homes on the market…” 

Bottom Line

If you are one of the many Americans who is unsure of how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2017! Check your homes worth – click here

Let’s get together to evaluate your situation!

Agency News and Awards June 13, 2017

The Green Team Welcomes Kim Lesley

Kim’s Unique Journey

“Your new home is the foundation in which to hold your family’s dreams, aspirations and visions.  And it is my responsibility to find you a personal sanctuary that you can call home.”   This is not a responsibility that Kim Lesley takes lightly.  The Green Team is delighted to welcome her to their Warwick office.  Kim brings her own unique life experiences and aesthetic to the team, and to her clients.  

Kim’s journey began in England.  It led her to New York City 28 years ago.  A professional working musician, she continues to perform and teach singing.  One of the original cast members of Broadway’s “Hamilton the Musical”  just happens to be Kim’s daughter, Jasmine.   Of course, Jasmine’s first singing teacher was her mom!  

Some 24 years ago, Kim began to frequently attend the peaceful environment at Ananda Ashram in Harriman Heights. Furthermore, she leads meditation workshops as the Spiritual Director of her own program in rehab programs and outpatient facilities.  Four years ago, she decided to make the move from Brooklyn to Monroe.  Her purchase of a home in Orange County led her to become a full-time realtor, helping others to find their new home.  “I fell in love with the beautiful Hudson Valley and its mountainous hills and valley.  As a result, I wanted to share it with others!”

The Path Leads to the Green Team

Kim’s passions have given her special tools that are invaluable in this industry.  Her ability to focus, to consistently, persistently hold onto a vision, have enabled her to see deals through when others have given up.  Negotiating is her passion.  She understands that each transaction has its own unique quality.  It was doing a transaction with a Green Team agent that led Kim to this destination in her journey.  “The realtor impressed me with his knowledge in what was a complicated transaction.  Furthermore, I became drawn to what the Green Team was doing:  its website, Facebook presence, and then to the people.  The Green Team displayed an upbeat, positive attitude.  Most of all, the agents were honest, friendly and helpful.  There was a connection that made me want to be part of this.”  

Kim’s understanding of the heart in others makes her dedicated to finding the perfect home for you. Whether buying, selling or renting a home, working with Kim will be an enlightening, joyous experience.  And rest assured, she will go above and beyond for you, with guidance and wisdom, never losing sight of the ultimate goal.

To contact Kim or learn more about her Click Here.

Buying a home June 29, 2016

Five Steps to Create the Kitchen of Your Dreams

Kitchen of Your Dreams…

Remodeling the kitchen can get to be a pain. When you decide to tackle this daunting undertaking, you want to do it right. According to a recent survey by Houzz.com, forty-nine percent of homeowners plan to completely gut their existing kitchen and start with a clean slate. When looking for new homes for sale in Warwick, it seems an outdated kitchen can be a deal-breaker. Regardless of the scope of your project, if you’re itching’ to update your kitchen, follow these five steps to design the space you’ve been dreaming about.

Step 1: Create a Budget

Before picking up a single tool or seeking contractor recommendations from friends, it’s important to determine how much you’re willing to spend to achieve your ideal kitchen. Whether needing basic upgrades or a complete remodel, setting your budget will help to create a realistic plan from the start. There is a wide range of important updates to change the look of your space, no matter what the price tag.

Step 2: Think About What You Need 

Take a step back and think about how you use the kitchen. Are you an avid baker who needs more counter space for rolling out confections? Do you like to make homemade pizza and the thought of a stone oven makes you drool? No matter what your dream space looks like, there’s one area that everyone should update – the kitchen faucet.

Because it sees so much use on a daily basis, think about ways to make tasks easier, like installing a new pull-down faucet. From preparing meals and washing dishes, to watering plants and filling pitchers, you’ll quickly notice the difference made by this simple update.

Beyond a new faucet, here are some of the most popular – and most desired – items for the kitchen, according to the Houzz survey:

  • Fifty percent said a chef’s stove was their dream appliance
  • Seventy-five percent of respondents want soft, neutral colors in the kitchen
  • Sixty-five percent are looking to coordinate with stainless steel appliances
  • A custom pantry is the most popular kitchen storage item, followed by a utensil drawer
  • Granite is still the most desired countertop material

Step 3: Research and Plan

Sources for ideas and inspiration are infinite, especially online. Sites like Pinterest and Houzz provide endless eye candy and design concepts for your new kitchen space. Houzz can even provide recommendations of local professionals to contact. To visualize a few of the upgrades you’re considering – not to mention touch and feel them – visit a local kitchen showroom as they have a number of vignettes and “rooms” designed throughout. Magazine articles and features can also provide valuable how-to information and design advice. Just be sure to save any favorite ideas in one place, making everything easily accessible when it’s time to get started.

Step 4: Determine Your Approach

Will you hire a pro or do most of the work yourself? If you’re going to change the layout or remove walls in the kitchen, it’s best to work with a professional contractor. Rewiring electrical or adding new light sources are also jobs best left to a certified electrician. If you’re an avid DIY’er, you may feel comfortable installing new cabinets, flooring, and countertops. But there are certain projects, like the demo, painting and installation of a new faucet that anyone – and any skill level – can easily tackle.

Step 5: Get to Work

If you haven’t begun working on your kitchen project yet, you’re not alone; 68 percent of Houzz respondents haven’t started construction, either. With the perfect plan and a list of updates to incorporate, it will be simple to create your dream kitchen space.

Whether you’re just moving into your brand new dream home, living in your current residence for 10 years, or are dreaming about a new kitchen, following these steps from the Green Team can take some of the hassles out of remodeling.